American Shipping Company releases its fourth quarter/preliminary annual results for 2008 on Thursday, February 26 at 09:00 CET.

With reference to notice of 15 January 2009 regarding summons of a bondholders meeting for the holders of bonds in the Senior Unsecured Callable PIK Bond (ISIN NO 001 035651.2) in American Shipping Company ASA.

Ceremony participants hand selected in honor of safety contributions

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, held a traditional keel laying ceremony today for the eighth MT-46 Veteran Class product tanker being constructed at the yard. When completed, the vessel will join its seven other sister ships and be sold to American Shipping Company and subsequently bareboat chartered to OSG America.

The sixth Veteran Class MT-46 Product Tanker is the tenth vessel built by the shipyard

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, launched its sixth product tanker in a series of twelve today representing the mid-point of the series. When completed, the 600 foot long vessel will be sold to American Shipping Company (Oslo: AMSC) and bareboat chartered to OSG America.

American Shipping Company releases its third quarter results for 2008 on Friday 31 October 2008 at 09:00 CEST.

Construction begins ten days after the yard’s successful delivery of its fifth product tanker, the Overseas Texas City.

Aker Philadelphia Shipyard (Oslo: AKPS) began construction today on Hull 013, the ninth product tanker in a series of twelve to be built for American Shipping Company (Oslo: AMSC). When completed, the 46,000 dwt vessel will be 600 feet in length and be capable of transporting the equivalent of 14 million gallons of liquid product.

Delivery comes six days after the shipyard’s ten year anniversary celebration

Aker Philadelphia Shipyard (Oslo: AKPS) delivered its fifth product tanker today to American Shipping Company (Oslo: AMSC). The tanker is the fifth in a series of twelve that will be delivered to American Shipping Company and in turn, chartered to OSG America. In the coming days the vessel will take to the sea for use in transporting petroleum products for BP, and is the third vessel in the series to be utilized by BP.

American Shipping Company ASA held its first Investor Day on Tuesday, September 8, 2008 in Philadelphia.

American Shipping Company releases its second quarter results for 2008 on Wednesday 13 August 2008 at 09:00 CEST.

As communicated to the market on the 25 June 2008, Aker American Shipping ASA has changed its name to American Shipping Company ASA.

Tanker will be the first in the U.S. with advanced EPA Tier II compliant engines

Aker Philadelphia Shipyard (Oslo: AKPS), a leading U.S. commercial shipyard, launched Hull 009, the fifth in a series of 12 product tankers to be completed by the yard in 2011 and sold to American Shipping Company (Oslo: AMSC), formerly Aker American Shipping.

An extraordinary general meeting was held today in Aker American Shipping ASA.

Nomination Committee Recommendations have been made for the extraordinary general meeting in Aker American Shipping ASA 25 June 2008.

The shareholders in Aker American Shipping ASA are invited to attend the Extraordinary General Meeting to be held on Wednesday 25 June 2008 at 09.00 hrs at Felix Conference Centre, Byggetorget 3, Aker Brygge, Oslo, Norway.

PHILADELPHIA, PA (June 9, 2008) – Aker American Shipping ASA (Oslo: AKASA), a leading U.S. Jones Act ship owning and leasing company, announced today that Gregory J. Matecki has joined the organization as Chief Financial Officer.

When completed, it will be the first U.S. flag shuttle tanker for use in the deepwater U.S. Gulf of Mexico

PHILADELPHIA, PA (May 27, 2008) - Aker American Shipping (Oslo: AKASA) representative Michelle Pinto started a plasma cutter today to officially begin production of the company‘s first shuttle tanker. When this vessel is completed, Aker American Shipping will become the first company in the United States to own a U.S. flag shuttle tanker for use in the deepwater U.S. Gulf of Mexico; an area within jurisdiction of the Jones Act.

Philadelphia, PA (May 21, 2008) - Aker American Shipping has expanded its capabilities by securing the services of Dean E. Grabelle as General Counsel. In this role, Grabelle will lead corporate strategic initiatives and manage all legal functions; including coordinating and overseeing the work of outside counsel.

Aker American Shipping releases its first quarter results for 2008 on Tuesday 29 April 2008 at 09:00 CEST.

A presentation of the results by President & CEO Rob Kurz and Finance Director Fredrik Nygaard will be conducted via conference call later that day at 14:00 CEST (8:00AM EST). All shareholders and other interested parties are invited to participate.

Tanker adds to growing fleet of double-hulled product tankers

PHILADELPHIA, PA (April 11, 2008) – Aker American Shipping (Oslo: AKASA) took delivery of its fourth Veteran Class MT46 tanker vessel today, expanding the company’s fleet of environmentally friendly, double-hulled product tankers. Like its three predecessors, the ship was constructed at Aker Philadelphia Shipyard (Oslo: AKPS) and measures 600 feet in length. Today’s delivery is the first transaction between Aker Philadelphia Shipyard and Aker American Shipping since the corporate reorganization which resulted in the split of AKASA’s ship owner and shipbuilding operations in December 2007.

Aker American Shipping releases its preliminary fourth quarter results for 2007 on Monday 28 January 2008 at 09:00 CET.

Aker American Shipping ASA has sold all its 7.6 million shares in the shipbuilding company at a price of NOK 57.50 per share. The sale will give an accounting gain of about USD 7 million, equivalent to approximately NOK 38 million.

Aker Philadelphia Shipyard ASA has successfully completed the previously announced private placement and has raised NOK 137.5 million in new equity. In addition to the issue of new shares, Aker American Shipping has sold all its 7,600,000 shares in Aker Philadelphia Shipyards.

The Board of Directors of Aker American Shipping has decided to implement a split of the company’s business activities into a shipowning company and a shipyard. Accordingly, a disbursement sale of shares in the new company Aker Philadelphia Shipyard ASA will be made via a bookbuilding process in the period 27 November through 4 December.

The shareholders in Aker American Shipping ASA are invited to attend the Extraordinary General Meeting to be held on Monday 10 December 2007 at 14.00 hrs at Felix Conference Centre, Byggetorget 3, Aker Brygge, Oslo, Norway.

The Board of Directors of Aker American Shipping has decided to implement a split of the company’s business activities into a shipowning company and a shipyard. The split will establish a solid foundation for further development of two leading US maritime companies.

Vessel is the third delivered this year and will operate in US Jones Act market

American Shipping Corporation (ASC) is pleased to welcome Mr. Robert Kurz as its new President. ASC was formed in the second quarter of 2005 to own and bareboat charter out Jones Act vessels.

Aker American Shipping releases its third quarter results for 2007 on Thursday 1 November 2007 at 09:00 CET.

Production milestone achieved with setting of complex section in Building Dock

PHILADELPHIA, PA (October 8, 2007) – Keel laying for the fifth tanker in Aker Philadelphia Shipyard‘s series of product tankers took place today in the yard’s Building Dock. The event was particularly noteworthy in that for the first time in the build program, the initial module set in the dock for this vessel (Hull 009) was a complex engine room section of the keel, featuring sweeping curves and intricate outfitting. Previous vessels saw a less complex cargo section of the keel set first in the dock, but targeted efforts to advance production methods have resulted in an improved building sequence first achieved on Hull 009.

Vessels will be first to enter new Shuttle Tanker market in the US Gulf of Mexico

PHILADELPHIA, PA (October 5, 2007) – Aker American Shipping ASA owned vessels will be the first to serve as U.S. flag shuttle tankers pursuant to the agreement announced today between Overseas Shipholding Group, Inc. (OSG) and Petrobras America, Inc. (Petrobras). The two 46,000 dwt Veteran Class tankers will be used to service a Floating Production Storage and Offloading facility (FPSO) at the Chinook and Cascade fields.

PHILADELPHIA, PA (October 3, 2007) – Aker American Shipping ASA and Overseas Shipholding Group, Inc. (OSG) announced today that they have signed an agreement pursuant to which Aker Philadelphia Shipyard, a subsidiary of Aker American Shipping, will construct two additional Veteran Class MT-46 Jones Act Product Tankers and transfer them to another subsidiary, American Shipping Corporation, which will bareboat charter the vessels to subsidiaries of OSG for initial terms of 10 years.